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Egypt gas output drops amid unpaid dues
Egypt experienced a decline in natural gas production during May 2024, reaching 3.3 billion cubic meters—a decrease of approximately 1.2% compared to April and 7.5% year-on-year. Meanwhile, imports and consumption increased by 7% and 7.3%, respectively. Despite the government settling overdue dues to foreign companies amounting to about $6.1 billion in June, there remain concerns over the lack of clear policies for managing the energy sector, as exploration and production operations have been impacted by delays in settlement processes. The government is seeking to boost production through new exploratory projects in the Mediterranean region, but experts continue to emphasize that the current decline highlights an urgent need for a comprehensive review of sector policies and performance improvements to enhance discoveries and reduce reliance on imports.
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